On March 18, 2020, President Trump signed the Family First Coronavirus Response Act. Included in this law, was a refundable credit for paid sick leave and paid family leave taken on the Employer’s Quarterly Federal Tax Return (Form 941). Employers with fewer than 500 employees must provide an employee with paid sick time if the… [keep reading…]
Tag: Albany
Lombardi and Commisso Named Shareholders
Albany, N Y: Tina Lombardi, CPA and Vincent J. Commisso, CPA, have recently been named as Shareholders for Teal, Becker & Chiaramonte, CPAs, P.C. (TBC). The promotion for both Lombardi and Commisso took place on June 1st. Lombardi joined the TBC team in 1991 while Commisso joined in 2007. Both Lombardi and Commisso graduated from… [keep reading…]
3 Big TCJA changes affecting 2018 individual tax returns and beyond
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree… [keep reading…]
Investment interest expense is still deductible, but that doesn’t necessarily mean you’ll benefit
As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This is interest on debt used to buy assets held for investment, such as margin debt used to buy securities. But if you… [keep reading…]
TBC and FAZ Forensics Announce Alliance to Expand Services in the Capital Region
ALBANY and SARATOGA SPRINGS (November 7, 2018) – Teal, Becker & Chiaramonte, CPAs, P.C. (TBC), a top accounting and advisory firm and Ferraro, Amodio & Zarecki, CPAs (FAZ Forensics), a leading boutique forensic accounting firm has announced a strategic alliance designed to provide their respective Capital Region clients and contacts with expanded service offerings. TBC… [keep reading…]